Kudlow: We expect China to retaliate for hiked tariffs
White House economic adviser Larry Kudlow said he expects China to retaliate against the U.S. after President Trump increased tariffs last weekon Chinese goods. “The expected countermeasures have not yet materialized,” Kudlow told “Fox News Sunday.” “[But] Yes, I reckon they will. We will see what they come up with. So far, we haven't heard on that basis." The U.S. increased tariffs Friday on $200 billion worth of Chinese goods to 25 percent from 10 percent after trade negotiators from both countries failed to come to an agreement. In addition, Trump called for U.S. Trade Representative Robert Lighthizer to begin raising tariffs on “essentially all remaining imports from China, which are valued at approximately $300 billion.” Kudlow said trade talks will continue, though there are no set plans yet. The likelihood of Trump meeting with Chinese President Xi Jinping next month during the G-20 summit in Japan is “pretty good," he added.
White House economic adviser Larry Kudlow said he expects China to retaliate against the U.S. after President Trump increased tariffs last weekon Chinese goods. “The expected countermeasures have not yet materialized,” Kudlow told “Fox News Sunday.” “[But] Yes, I reckon they will. We will see what they come up with. So far, we haven't heard on that basis." The U.S. increased tariffs Friday on $200 billion worth of Chinese goods to 25 percent from 10 percent after trade negotiators from both countries failed to come to an agreement. In addition, Trump called for U.S. Trade Representative Robert Lighthizer to begin raising tariffs on “essentially all remaining imports from China, which are valued at approximately $300 billion.” Kudlow said trade talks will continue, though there are no set plans yet. The likelihood of Trump meeting with Chinese President Xi Jinping next month during the G-20 summit in Japan is “pretty good," he added.
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